- Posted November 30, 2011
- Tweet This | Share on Facebook
Agency OK likely for rule on firms' customer funds
WASHINGTON (AP) -- Federal regulators are likely to approve a rule next week restricting how firms trading in futures can invest customer funds, an issue related to the collapse of brokerage firm MF Global.
The Commodity Futures Trading Commission says its five members will vote on making the rule final at a public meeting next Monday.
The rule was first proposed by the agency late last year. But last summer, a meeting to vote on it was cancelled. Jon Corzine, the former New Jersey governor and U.S. senator who headed MF Global until earlier this month, lobbied the CFTC against the rule.
MF Global filed for bankruptcy protection on Oct. 31. The CFTC and other regulators are investigating whether MF Global tapped money from clients' accounts as its financial condition worsened.
Published: Wed, Nov 30, 2011
headlines Oakland County
- Judge’s memorial unveiled
- Bring ’em to Ingham? Not necessarily, Supreme Court rules of lawsuits state files
- Nessel secures preliminary injunction protecting USDA funding
- Final judgment secured in lawsuit challenging administration’s $100k tax for H-1B visas
- Woman sentenced for distributing child porn, prosecutor disappointed with sentence imposed
headlines National
- Bill Kurtis’ memoir tells how law school trained him for covering trials
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Justice Barrett’s home targeted in attempted swatting call
- Texting-and-driving charges dropped against woman without right hand
- Fender warns guitar makers to stop producing Stratocaster look-a-likes
- General counsel compensation climbs, aligned with equity and company scale
